Stay Informed to Stay Ahead

By Patricia Uceda, Spring 2014 Student Intern

Once you decide where to invest and what to invest in, it is important to closely monitor your investments to make sure that they continue to be appropriate for you and your investment goals. Specifically, you want to know how your investments are performing and if you are on track for meeting your long-term investment goals. This week, we’ll provide you with specific steps that you should be taking to ensure that you are staying informed.

Today’s tip:  Review Your Portfolio Annually

Keep track of any documents your financial adviser provides to you such as monthly statements or trade confirmations. Once a year, sit down and note what the current value of your investment account is based on dividends and deposits going in and fees, commissions, and withdrawals going out. InvestRight has created an annual portfolio review worksheet that you can fill out and then bring to your financial adviser. This will facilitate an open conversation about the performance of your investment portfolio and whether it is moving you towards your financial goals. By saving these annual portfolio reviews as well as all monthly statements, you will be able to see how your portfolio is performing from year to year. That way, if you spot a downward trend you can work with your adviser to remedy it.